SBI Caps to conduct Taj Mansingh auction in Delhi for civic body

NDMC is likely to offer Taj on a long-term lease, on a revenue-share model and an upfront payment

SBI Caps will conduct the auction of the Taj Mahal hotel here for the New Delhi Municipal Council (NDMC), the capital’s civic body.
 
SBI Caps, which worked out the coal linkage auction mechanism in 2015, will also advise the NDMC (which owns the land on these properties) on the auction of two more hotels, The Connaught and Hotel Asian International.
 
In 2015, the NDMC had hired SBI Caps to oversee the Taj Mahal’s (popularly known as Taj Mansingh, after the road it is on) auction. However, the process did not move as Indian Hotels Company, operator